Mix up box red velvet cake batter per package directions into mixing bowl.
Place paper cupcake liners into a 24-cupcake pan and divide batter evenly into the cupcake liners.
Bake until toothpick inserted into center of cake comes out clean, about 16-19 minutes. Let cupcakes cool completely on wire racks.
Do not begin frosting the cake until the cakes are completely cooled.
To make the frosting, combine butter, powdered sugar and heavy cream until smooth.
Remove 2 cups of frosting into a bowl and add food coloring to make purple. If using Wilton Color Right dyes, add 12 pink drops and 2 blue drops.
Place ¼ cup of white frosting in a small bowl and add black food coloring.
Place ½ cup of white frosting in a small bowl and reserve.
Place ¼ cup of white frosting in a small bowl and add food coloring to make orange. If using Wilton Color Right dyes, add 5 orange drops and 2 yellow drops.
With the bulk of the remaining frosting, mix in food coloring to make green. If using Wilton Color Right dyes, add 30 yellow drops and 2 blue drops.
Use black fondant to make a unicorn horn (detailed instructions in blog post). Starting with a small ball of fondant, roll between two hands to form a snake. Then fold and pinch ends together and twist. Allow horns to harden then brush with gold dust.
Roll out green fondant until ⅛-inch thick. Use mini teardrop cutters, cut out 48 ears. Allow fondant to harden before using a black edible marker to color inside of the ear.
To make gel icing, mix together 2 TBS water with cornstarch. Stir in corn syrup then microwave in 20-second increments, stirring in between, until mixture is thick and clear. Mix a few drops of peppermint extract, if you like. Add food coloring to make the gel red. If using Wilton Color Right dyes, add 4 drops of crimson.
When cupcakes are cooled, use tip #2A and pipe the top of each cupcake with green frosting.
Then use a leveler to smooth the frosting top and flatten it.
Using white frosting with tip #5, add a small ball of frosting to hold one candy eye. Place candy eye on top.
Using black frosting with tip #5 pipe an 'X' or an arc for the other eye.
If you like, pipe a straight line underneath eyes for a mouth.
Using a small star tip, like tip #32, pipe a large star or rosette in purple in the center of the cupcake and above the two eyes. Continue to add swirls and stars in purple and green to make the mane.
Use round tip #5 to add small balls of orange and black in the mane.
When the unicorn horn is hardened, gently press it into the center of the mane.
Using tip #2, pipe red gel icing from the top of the unicorn horn and down the top of the horn.
Use the same gel icing to pipe red veins in the candy eyes.
When the unicorn ears are hard, place them either side of the unicorn horn, into the mane.